By SiliconIndia | Monday, 03 June 2013, 16:16 IST
Infosys has recalled its iconic leader N.R. Narayana Murthy for the rescue mission following the Indian giant’s underperformance in the last quarters. Murthy will make his comeback as Executive Chairman while son Rohan will assist him in this regard. The market responded with 15 percent slump in shares, following the news.
Since its inception in 1981, there were many hands and sacrifices under one leader for which the company has been lauded for its overall efforts and contributions. Here are some thrilling events in Infy’s history compiled by Reuters that has inspired many younger generations over the years.
#1 1981 –N.R. Narayana Murthy led the team along with six other engineers in Pune to start the company. The idea of Infosys bloomed out on January 1981, when Murthy and his team mates sat in an apartment to discuss about how they could come up with a company that writes software codes. Within six months, on July 2, 1981, Infosys was registered as a private company. One of the co-founders, N.S. Raghavan’a house in Mumbai was the company’s registered office.
Murthy was said to have borrowed $250 from wife, Sudha Murthy for the starting capital of Infosys Consultants Pvt Ltd, which was its official name.
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Comment by Anumakonda Jagadeesh
Infosys got its first real break from the German technology company Bosch. It moved from Mumbai to Bangalore, in order to be close to Bosch’s data center. It subsequently carried out application maintenance and software development for General Electric, Schlumberger, Siemens, Airbus and Crédit Suisse, delivering these services out of its offices in India.
In 1993, Infosys went public on the Indian stock market and shifted strategy to focus on selected vertical markets. The 1991 liberalization of the Indian economy, India’s plentiful and lower cost, skilled labor, and a time difference enabling round-the-clock operations for US/European companies, fuelled the growth of Infosys and India’s emerging software industry.
In the early days of Infosys, the growth was phenomenal. One element of Infosys’ operational excellence is its Global Delivery Model, based on doing work where it adds most value – that is, utilizing the best global resources with the lowest associated cost and at the highest possible quality. Reliable telecom infrastructure and India’s low-cost skilled manpower allowed most of the work to be conducted offshore. Onsite aspects of the project are limited to those aspects requiring market proximity and customer interaction. The resulting ratio of 30:70 onshore/offshore provides a strong customer focus, as well as significantly reduced delivery costs. Thus, close to 45,000 Infosys employees are based in India.
Customer satisfaction is another key to Infosys’ breakneck rate of profitable growth. Over a 25-year period, the company has successfully completed more than 20,000 projects with a 99.998% error-free record. Over 93% of the projects were delivered on time and on budget, far above the industry average of 30%. Such high customer satisfaction rates have resulted in 95% of clients coming back to Infosys for further projects.
Established in 1981, Infosys is a NYSE listed global consulting and IT services company with more than 155,000 employees. From a capital of US$ 250, we have grown to become a US$ 7.398 billion (FY14 revenues) company with a market capitalization of approximately US$ 31 billion.
Infosys Milestones
2012
• Listed on the NYSE market
• Infosys acquires Lodestone Holding AG, a leading management consultancy based in Switzerland
• Forbes ranks Infosys among the world's most innovative companies
• Infosys among top 25 performers in Caring for Climate Initiative
• Infosys crosses the US$ 7 billion revenue mark
2011
• N. R. Narayana Murthy hands over chairmanship to K.V. Kamath
• Infosys crosses US$ 6 billion revenue mark, employee strength grows to over 130,000
2010
• Infosys crosses the US$ 5 billion revenue mark
2009
• Infosys opens its first development center in Brazil and second Latin American development center in Monterrey, Mexico
• Infosys selected as a member of The Global Dow
• Employee strength grows to over 100,000
2008
• Infosys crosses revenues of US$ $ 4.18 billion
• Annual net profits cross US$ 1 billion
2007
• Infosys crosses revenues of US$ 3 billion. Employees grow to over 70,000+
• Kris Gopalakrishnan, COO, takes over as CEO. Nandan M. Nilekani is appointed Co-Chairman of the Board of Directors
• Opens new subsidiary in Latin America
• Reports Q2 revenue of over US$ 1billion
2006
• Infosys celebrates 25 years. Revenues cross US$ 2 billion. Employees grow to 50,000+
• N. R. Narayana Murthy retires from the services of the company on turning 60. The Board of Directors appoints him as an Additional Director. He continues as Chairman and Chief Mentor of Infosys
2005
• Records the largest international equity offering of US$ 1 billion from India
• Selected to the Global MAKE Hall of Fame
2004
• Revenues reach US$ 1 billion
• Infosys Consulting Inc. is launched
2003
• Establishes subsidiaries in China and Australia
• Expands operations in Pune and China, and sets up a development center in Thiruvananthapuram
2002
• Touches revenues of US$ 500 million
• Nandan M. Nilekani takes over as CEO from N.R. Narayana Murthy, who is appointed Chairman and Chief Mentor
• Opens offices in the Netherlands, Singapore and Switzerland
• Sponsors secondary ADS offering
• Infosys and the Wharton School of the University of Pennsylvania set up The Wharton Infosys Business Transformation Awards (WIBTA)
• Launches Progeon, offering business process outsourcing services
2001
• Touches revenues of US$ 400 million. Opens offices in UAE and Argentina, and a development center in Japan
• N. R. Narayana Murthy is rated among Time Magazine/CNN's 25 most influential businessmen in the world
• Infosys is rated as the Best Employer by Business World/Hewitt
2000
• Touches revenues of US$ 200 million
• Opens offices in France and Hong Kong, a global development center in Canada and UK, and three development centers in the US
• Re-launches Banks 2000, the universal banking solution from Infosys, as Finacle™
1999
• Touches revenues of US$ 100 million. Listed on NASDAQ
• Infosys becomes the 21st company in the world to achieve a CMM Level 5 certification
• Opens offices in Germany, Sweden, Belgium, Australia, and two development centers in the US
• Infosys Business Consulting Services is launched
1998
• Starts Enterprise Solutions (packaged applications) practice
1997
• Opens an office in Toronto, Canada
• Infosys is assessed at CMM Level 4
1996
• The Infosys Foundation is established
1995
• Opens first European office in the UK and global development centers at Toronto and Mangalore. Sets up e-Business practice
1994
• Moves corporate headquarters to Electronic City, Bangalore. Opens a development center at Fremont
1993
• Introduces Employee Stock Options (ESOP) program
• Acquires ISO 9001/TickIT certification
• Goes public
1987
• Opens first international office in Boston, US
1983
• Relocates corporate headquarters to Bangalore
1981
• Infosys is established by N. R. Narayana Murthy and six engineers in Pune, India, with an initial capital of US$ 250
• Signs up its first client, Data Basics Corporation, in New York
(Source: Infosys Company Report).
It is sad that such a company started from scratch by dedicated people has gone into some bad patch. With the courage and determination ,it is hoped Shri N.R.Narayana Murthy will bring in the glory to Infosys soon.
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